Technical Analysis

CFTC Commitments of Traders: EUR longs continue to get covered. JPY shorts remain steady Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly forex futures positioning data for the CFTC for the week ending March 30, 2021 EUR long 68K vs 74K long last week. Longs

Nasdaq 1.9% from the all time high The major indices are all closing higher and near highs for the day/week. The S&P and Dow industrial average both closed at record highs. The NASDAQ index is just under 2% away from the all time high.   The major indices also closed higher for the week with the NASDAQ index leading the charge at

Below the 100/200 hour MAs and above the 38.2% and swing area The USDCAD moved lower (higher CAD) after the much better than expected jobs report. However support near the 38.2% retracement of the move up from the March 18 low and a a swing area between 1.28408 and 1.28474 stalled the fall on the first dip. The

Major indices close near highs for the day The major indices closed the day near record highs. The S&P is closing at a new record level. The Dow is closing about 24 points from its all time high at 33527.19.  The Nasdaq is still 1.89% from its all time high close at 14095.47 (the all

EUR/USD falls back towards the lows for the day at 1.1864 now Invest in yourself. See our forex education hub. The bounce at the start of the week continues to stall for EUR/USD as buyers are finding it tough to negotiate a breakthrough above the 200-day moving average (blue line). That level is seen @

The S&P index did close at a new record high The major indices are closing their unchanged levels give or take. The border S&P index got up to a higher 4083.16. That was just short of the all-time high reached yesterday at 4086.23 (but it did close at a new record high). The NASDAQ index

The USD is a bit stronger As North American traders enter for the day, the CHF is the strongest, while the AUD is the weakest. The USD is looking tilting to the upside with gains vs the CAD, AUD, NZD, GBP and JPY and declines vs the EUR and CHF.   The US futures are implying a near unchanged

Nasdaq turns negative in the final hour of trading The major indices are all closing lower on the day. The S&P made a new intraday high but closed lower. The Nasdaq index turned negative in the last hour of trading in an up and down session. The Russell 2000 closed lower for the first time

The dollar reverses some of the declines from yesterday Yesterday, the USD was the weakest of the majors. Today the USD is back to being the strongest.  The stocks are marginally lower. They were surged higher yesterday.  Yields are marginally lower today with a flatter year curve. They were lower yesterday too.  Europe is back

Nasdaq still 3.3% from the all time high The Dow and S&P both closed at record highs. The Nasdaq index rose sharply today, but still trades around 3.3% from the all time high reached on February 16.   For the day: S&P index rose 57.91 points or 1.44% at 4077.78.  At the highs the S&P was up

German Dax closes at a new record. France’s CAC just off all time highs. The European major indices are ending the session higher with the German Dax closing at a record level. France’s CAC is stalled just ahead of its all time high today. A snapshot of the levels shows: German Dax, +0.7% France’s CAC, +0.59% UK FTSE 100, +0.35%

Midpoint of the move down from teh March 18 high tested The GBPUSD moved up to test the swing area in the 1.3796 to 1.3811 area near the start of the NY session (see post here).  There were bullish undertones as a result of the base against support at the lows and the move back

100 hour moving average, 100 day moving average and 200 hour moving average tested on the AUDUSD. The AUDUSD is down trading at new session highs after erasing earlier declines that saw the pair move to the lowest level since December 2020.   The rise has now taken the price up to a cluster of moving average levels including the 100

1.25387 to 1.25474 is key swing area WTI crude oil is trading up $2.33 as production cuts in OPEC+ will remain in place (at least for now). That is a gain of 3.88%. The price reached a high of $61.59 so far. The move higher has helped the CAD move higher (the USDCAD lower). The

The USD is mixed The snapshot of the strongest to weakest ahead of the US jobs report is showing the NZD is the strongest, the CAD is the weakest. The USD is right in the middle with nearly equal gains vs losses vs the major indices. The USD is highest vs the CAD (at +0.14%)

What the charts are saying now and going into next week’s trading The US dollar is modestly higher after the better than expected jobs report but off the initial spike levels.  EURUSD: The EURUSD fell to a low of 1.1755 but has bounced back to 1.1768 currently.  The pair trades between the 200 hour MA

All quiet in Europe amid the Easter holiday It is Good Friday today and most European markets are observing a holiday, with FX being the only notable market open ahead of the weekend. The dollar is keeping steadier with little change observed across the board after a pullback yesterday, with Treasuries seeing a bid before

6 straight day of gains in jeopardy The USDJPY has moved higher for 6 consecutive days.  On the 3rd day higher, the price moved outside a narrow trading range of 103 pips that was in effect for 14 days. Since then, the price has moved 160 pips higher (yesterday was the high).  The price broke